IMG Part Company with World Series of Boxing Leaving Stake to AIBA

IMG, the major sports marketing and management firm, has announced that it will part company with the World Series of Boxing (WSB) at the end of the inaugural season of the International Boxing Association (AIBA) project.

The first WSB campaign is set to conclude later this month having got underway in November of last year, while the team finals will take place on May 6-7 and the individual championships will be held on May 27-28.

AIBA, boxing’s world governing body, will acquire IMG’s 25 per cent stake in the Series after the split, making the International Federation the 100 per cent owner of WSB.

AIBA released a statement reading: “The World Series of Boxing would like to clarify that IMG and the WSB have taken a mutual decision for IMG to cease activities as the exclusive sales agent on sponsorship and TV distribution for the World Series of Boxing and, as a consequence, for IMG to transfer its shareholding in the World Series of Boxing back to AIBA, the International Boxing Association.”

A joint statement released by the two organisations claimed that “IMG and WSB are pleased with the success of the inaugural season of the World Series of Boxing”.

However, the statement added: “Since the season started WSB and IMG have been in discussions on the respective roles of each organisation beyond the first season of the tournament. During these discussions it emerged that there were different expectations as to how the partnership should develop.”